Australia is losing $5.9 billion a year managing underachievers, according to a recent global SHL survey of 700 managers and 2500 employees
Australia is losing $5.9 billion a year managing underachievers, according to a recent global SHL survey of 700 managers and 2500 employees. It found that, as Australian businesses squander the talent and potential of their workforce, they are wasting 1.13 per cent of the Australian GDP, compared to a global figure of 1.65 per cent. On an individual business level, Australian companies waste $1,118 for every full time employee. In Australia, one in seven disheartened employees give up and leave their job before they are competent, and job-hopping incurs further costs as it takes an average of seven months for Australian employees to reach competence in a new job, according to the report.
Mental health challenges in the workplace
Mental health problems currently cost Australia $13 billion per year in 6 million work days lost and 12 million days of reduced productivity, according to the Mental Health Council of Australia. SEE (Social Enterprise Endeavour) Change, in conjunction with beyondblue, Mensline Australia and other community organisations, will host a one-day conference on mental health on 12 October in Melbourne and on 18 November in Sydney. For a conference program and more information about a discount for Human Resources magazine readers please call (03) 9690 8860 or email [email protected].
Bullying rife in NSW workplaces
Three out of every four workers have been the victim of bullying at work, and just over half believe a culture of bullying is entrenched within their workplaces, according to a recent survey of 840 NSW workers. Conducted by the NSW Labor Council, it said employers need to make a commitment to creating cultures where workers feel not just physically safe, but psychologically safe as well. The council also launched a ‘Dignity in the Workplace Charter’ aimed at eradicating bullying at work, with The Western Area Health Service signing on as the first employer to formally endorse the charter.
